Astronics Corp. (ATRO) Forecasted to Earn Q3 2016 Earnings of $0.50 Per Share
Astronics Corp. (NASDAQ:ATRO) – Stock analysts at Dougherty & Co decreased their Q3 2016 earnings per share estimates for shares of Astronics Corp. in a research note issued on Thursday. Dougherty & Co analyst R. Ryan now forecasts that the brokerage will earn $0.50 per share for the quarter, down from their prior estimate of $0.57. Dougherty & Co also issued estimates for Astronics Corp.’s FY2016 earnings at $1.93 EPS.
Astronics Corp. (NASDAQ:ATRO) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. The business earned $164.40 million during the quarter, compared to the consensus estimate of $162.17 million. Astronics Corp. had a return on equity of 21.44% and a net margin of 9.55%. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share.
Several other equities research analysts have also issued reports on the stock. Canaccord Genuity lifted their price objective on shares of Astronics Corp. from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, September 26th. KeyCorp raised shares of Astronics Corp. from a “sector weight” rating to an “overweight” rating in a research note on Wednesday, June 29th.
Astronics Corp. (NASDAQ:ATRO) opened at 36.62 on Friday. The company has a 50-day moving average price of $43.53 and a 200-day moving average price of $38.61. The firm has a market capitalization of $926.27 million, a P/E ratio of 14.83 and a beta of 1.18. Astronics Corp. has a 1-year low of $24.75 and a 1-year high of $48.00.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATRO. Legal & General Group Plc increased its position in Astronics Corp. by 33.7% in the first quarter. Legal & General Group Plc now owns 3,252 shares of the company’s stock valued at $123,000 after buying an additional 819 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Astronics Corp. by 25.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,581 shares of the company’s stock valued at $161,000 after buying an additional 723 shares during the last quarter. Intrust Bank NA bought a new position in Astronics Corp. during the second quarter valued at about $213,000. Marshall Wace LLP bought a new position in Astronics Corp. during the second quarter valued at about $216,000. Finally, HighTower Advisors LLC increased its position in Astronics Corp. by 1.3% in the second quarter. HighTower Advisors LLC now owns 7,281 shares of the company’s stock valued at $242,000 after buying an additional 90 shares during the last quarter. 65.80% of the stock is owned by hedge funds and other institutional investors.
In other Astronics Corp. news, Director John B. Drenning sold 5,000 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $43.47, for a total transaction of $217,350.00. Following the completion of the transaction, the director now owns 52,039 shares of the company’s stock, valued at approximately $2,262,135.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 16.03% of the company’s stock.
About Astronics Corp.
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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